20 June 2010
For claiming deduction u/s 24 for interest as well as getting benefit of repaymnet of loan u/s 80C, one basic condition is that loan & house should be in the name of assessee.
In your case if your client is co owner of the home but the loan is is the name of wife, then only his wife can claim the benefit of section 24 as well as 80C.....Its better to advice your client to take laon in his name also to get the dual benefits...
CAclubindia
